Aeroports De Paris · EURONEXT:ADP
Aeroports De Paris — Groupe ADP — H1 2021 Earnings Presentation
31 slides from Aeroports De Paris's earnings presentation, Jul 28, 2021
Slide 1: 2021 Half-Year Results
2021 HALF-YEAR RESULTS 28 July 2021 GROUPE ADP Groupe ADP – 2021 Half-year results| 0
Slide 2: Agenda
AGENDA 2021 Half-year highlights Augustin de ROMANET Chairman and Chief Executive Officer Philippe PASCAL 2021 Half-year results Deputy Executive Officer – Finance, Strategy and Administration Outlook & conclusion Augustin de ROMANET Chairman and Chief Executive Officer
Slide 3: 2021 Half-Year Highlights
VTOL? 01 2021 HALF-YEAR HIGHLIGHTS Augustin de Romanet Chairman and Chief Executive Officer
Slide 4: Recovery of traffic from May onwards more pronounced abroad
RECOVERY OF TRAFFIC FROM MAY ONWARDS MORE PRONOUNCED ABROAD Monthly passenger traffic over the 1st half of 2021 compared to 2020 and 2019 Paris Aéroport (mPax) Groupe ADP excl. Paris Aéroport1 (mPax) 26 26 24 24 22 22 20 20 18 18 16 16 14 14 12 12 10 10 8 8 6 6 4 4 2 2 0 0 Jan. Feb. Mar. April May J
Slide 5: A positive EBITDA over the 1st half despite the decline in revenue
A POSITIVE EBITDA(1) OVER THE 1ST HALF OF THE YEAR DESPITE THE DECLINE IN REVENUE Revenue(2)(3) EBITDA(1)(2)(3) €M -15.3% +€116m €M -€179m 1,168 155 989 39 H1 2020 H1 2021 H1 2020 H1 2021 Operating income from ordinary activities(2)(3)(4) Net result attributable to the Group(2)(3)(4) +€323m +€371m €
Slide 6: The passenger at the center of the Group's priorities during the crisis
THE PASSENGER AT THE CENTER OF THE GROUP’S PRIORITIES DURING THE CRISIS Our priorities Our actions Guarantee our passengers’ A concerted action with safety government services A simplified process thanks Limit waiting times to the health pass Improve the quality of An enhanced quality of
Slide 7: Hospitality with a focus on excellence
HOSPITALITY WITH A FOCUS ON EXCELLENCE Outstanding offer Portfolio’s brands retention Opening of redesigned terminals such as 2BD and 2E gate L Competitive infrastructures for airlines Outstanding place Parisian experience on a human scale based on the singularity of the architecture, the in
Slide 8: Adapting airport capacities to the recovery in traffic
ADAPTING AIRPORT CAPACITIES TO THE RECOVERY IN TRAFFIC A strictly managed reopening sequence of Paris-Charles de 77,500m² Gaulle’s infrastructures which were closed since the of built and renovated beginning of the crisis, to optimize costs areas within terminal 2B and the 2B-2D link building Priori
Slide 9: 2021 Half-Year Financial Results
02 2021 HALF-YEAR FINANCIAL RESULTS Philippe Pascal Deputy Executive Officer – Finance, Strategy and Administration
Slide 10: Group traffic over the 1st half still impacted by the resurgence of Covid-19
GROUP TRAFFIC OVER THE 1ST HALF OF THE YEAR STILL IMPACTED BY THE RESURGENCE OF THE COVID-19 PANDEMIC Group traffic over the 1st semester at 48.8 mPax1, down by -26.6%, at 29.7% of the 2019 traffic level France Croatia North Macedonia Georgia Turkey Paris-CDG: 6.6 mPax (-52.9%) Zagreb Skopje,
Slide 11: Traffic at Paris Aéroport down by 45.7%
TRAFFIC AT PARIS AÉROPORT DOWN BY 45.7% Paris Aéroport’s traffic vs. peers (in mPax) % compared Decline in traffic at Paris Aéroport due to Covid-19 to 2019 traffic pandemic: Paris-CDG+ORY 11 20.5% CDG: -52.9%, at 6.6 mPax Madrid-Adolfo Suarez 7 22.3% ORY: -28.2%, at 4.1 mPax Frankfurt-Fraport 7
Slide 12: Positive EBITDA due to favorable base effects and punctual gains on real estate
POSITIVE EBITDA DUE TO FAVORABLE BASE EFFECTS AND PUNCTUAL GAINS ON REAL ESTATE Revenue(1) €M -15.3% Société de Distribution Aéroportuaire and Relay@ADP: activities 1,168 considerably reduced, especially during the lockdown period, and by 58 0 13 134 989 the restrictions of air travel and on the o
Slide 13: Net result attributable to the Group improving
NET RESULT ATTRIBUTABLE TO THE GROUP IMPROVING +€323m €M Operating income from ordinary activities(1)(2) Société de Distribution Aéroportuaire and Relay@ADP: favorable base effect linked to the impairment of intangible assets of SDA for 51 million euros over the 1st half of 2020. TAV Airports &
Slide 14: An objective of preserving the Group's financial rating
AN OBJECTIVE OF PRESERVING THE GROUP'S FINANCIAL RATING Debt repayment schedule (capital excl. interest as of June 30th, 2021, €M) 1,513 1,363 515 513 1,013 413 763 763 513 513 613 400 269 270 226 18 48 39 72 73 23 74 13 72 4 77 8 41 43 41 28 13 24 23 13 21 2021 2022 2023 2024 2025 2026 2027 2028 20
Slide 15: Outlook & Conclusion
03 OUTLOOK & CONCLUSION Augustin de Romanet Chairman and Chief Executive Officer
Slide 16: The Parisian activities' recovery strategy (1/2)
THE PARISIAN ACTIVITIES’ RECOVERY STRATEGY (1/2) Progressive infrastructure reopening by April 2023 Operations Balance between operational needs and compliance with health rules optimization on the one hand, and opex control and commercial performance on the other hand. 65%-75% of 2019 traffic in 20
Slide 17: The Parisian activities' recovery strategy (2/2)
THE PARISIAN ACTIVITIES’ RECOVERY STRATEGY (2/2) Real estate Confirmation of the real estate strategy prospects Main projects maintained even if delayed, development of business retention parks and expansion of the cargo strategy, continuation of the AOTs1 recovery strategy. Towards an acceleration
Slide 18: 2021 forecasts and mid-term guidances
2021 FORECASTS AND MID-TERM GUIDANCES 2021-2024 forecasts and traffic assumptions for 2021 Revision of the 2021 group traffic assumption 40% - 50% of the 2019 group traffic(1) vs. 45% - 55% previously expected(2) Revision of the 2021 Paris Aéroport traffic assumption 30 % - 40 % of the 2019 Paris Aé
Slide 19: A reaffirmation and a strengthening of the environmental commitments
A REAFFIRMATION AND A STRENGTHENING OF THE ENVIRONMENTAL COMMITMENTS An international environmental ambition The entirety of ADP’s network airports aiming for carbon neutrality by 2030. Aim of net zero emissions by 2050 the latest : 8 of Groupe ADP’s airports have already engaged the process. 23 of
Slide 20: The call for expressions of interest on hydrogen
THE CALL FOR EXPRESSIONS OF INTEREST ON HYDROGEN, AN ICONIC PROJECT FOR 2021 Transition of air transport to a zero CO2 aircraft Construction of a territorial ecosystem and development of synergies between actors Promote the first use cases and contribute to Establishment of a common vision promoting
Slide 21: Appendices
04 APPENDICES
Slide 22: 2021 Half-Year Group Traffic
2021 HALF-YEAR GROUP TRAFFIC Traffic level compared to In mPax Group traffic (mPax) 2021 / 2020 change(1) (in %) 2019(1) Paris Aéroport (CDG+ORY) 10.7 -45.7% 20.5% Zagreb 0.3 -38.4% 22.0% Jeddah-Hajj 0.0 -100.0% 0.0% Amman 1.2 -20.9% 29.7% Mauritius 0.1 -93.5% 3.2% Conakry 0.2 +61.4% 74.5% Santiago
Slide 23: 2021 Half-Year Detailed Group Income Statement
2021 HALF-YEAR DETAILED GROUP INCOME STATEMENT In €m (unless stated otherwise) H1 2021(1)(2) H1 2020(2) 2021 / 2020 Revenue 989 1,168 -€179M Operating expenses (994) (1,082) +€89M Other expenses and incomes 159 (47) +€206M EBITDA 155 39 +€116M Amortisation and impairment of tangible and intangible a
Slide 24: Aviation: Monthly change in Paris Aéroport traffic
AVIATION MONTHLY CHANGE IN PARIS AÉROPORT TRAFFIC MONTHLY CHANGE IN TRAFFIC Q1 Q2 Q3 Q4 2021: -75.1% 2021 : + 5.0 MPax 2020: -73.5% 2019: -79.4% 2020: -20.9% 2020: -96.5% Mpax Monthly change 8 +1000% 7 +800% 6 +600% 5 4 +400% 3 +200% 2 +0% 1 0 -200% Jan. Feb. Mar. Apr. May June Jul. Aug. Sep. Oct. N
Slide 25: Aviation income statement – H1 2021
AVIATION INCOME STATEMENT – H1 2021 REVENUE (€M) -22.9% 482 66 10 1 19 16 372 0 27,0 % 10,4 % 28,0 % 10,7 % 28,0 % 10,7 % 30,4 % 15,0 % Chiffre d’affaires Passenger fees Landing fees Parking fees Ancillary fees Revenue from Other income H1 2021 Revenue S1 2020 airport safety and security services (i
Slide 26: Retail and Services income statement – H1 2021
RETAIL AND SERVICES INCOME STATEMENT – H1 2021 REVENUE (€M) -22.0% 371 52 5 19 289 13 10 1 2 H1 2020 Société de Relay@ADP Other retail Car parks and Industrial Rental income Other income H1 2021 Revenue Distribution activities access roads services Revenue Aéroportuaire (in million of euros) H1 2021
Slide 27: Real Estate income statement – H1 2021
REAL ESTATE INCOME STATEMENT – H1 2021 REVENUE (€M) - 2,3 % 149 5 146 1 1 2 H1 2020 Revenue Land Buildings Other external Internal revenue H1 2021 Revenue revenue (in millions of euros) H1 2021 H1 2020 2021/2020 Revenue: -2.3%; Revenue 146 149 -2.3% External revenue 121 126 -3.9% EBITDA: +€143M,
Slide 28: Real estate projects pipeline as at the end of June 2021
REAL ESTATE PROJECTS PIPELINE AS AT THE END OF JUNE 2021 Airport Segment ADP Role Operator Project Opening Floorspace (sq.m.) CDG Diversification Developer Sogafro/SDV Offices and warehouses 2016 37,500 CDG Aeronautical Investor Aerolima Equipment maintenance center 2016 4,300 CDG Aeronautical Devel
Slide 29: International and Airport Development income statement – H1 2021
INTERNATIONAL AND AIRPORT DEVELOPMENT INCOME STATEMENT – H1 2021 REVENUE (€M) - 1,6 % 225 221 0 0 4 12 13 H1 2020 Revenue AIG ADP Ingénierie TAV Airports Société de Distribution Other H1 2021 Revenue Aéroportuaire Croatia (in millions of euros) H1 2021(1)(2) H1 2020(2) 2021/2020 Revenue 221 225 -1.6
Slide 30: Other activities H1 2021 – income statement
OTHER ACTIVITIES H1 2021 - INCOME STATEMENT PRODUCTS (€M) +24.9% 83 4 13 66 H1 2020 Products Hub One Others H1 2021 Products (in millions of euros) H1 2021 H1 2020 2021/2020 Products: up by +24.9%; Products 83 66 +24.9% Hub One 77 64 +20.4% EBITDA: up by +5€M; EBITDA 12 7 +€5M Operating income f
Slide 31: Disclaimer
Disclaimer This presentation does not constitute an offer of, or an invitation by or on behalf of Aéroports de Paris to subscribe or purchase financial securities within the United States or in any other country. Forward-looking disclosures are included in this press release. These forward-looking d